Pilbara Minerals Limited (ASX: PLS) is witnessing a surge in stock price with encouraging update from Pilgangoora Lithium-Tantalum project. Financial outcomes at the Stage 2, 5Mtpa Pilgangoora Lithium-Tantalum project through the definitive feasibility study (DFS) were exceptional and the robust economics outlined a compelling case for the expansion to proceed following recent commissioning of the Stage 1, 2Mtpa facility. Post tax NPV of A$ 2.160 billion, LOM project revenue of $A 12.2 billion and LOM EBITDA of $A 6.3 billion has been highlighted. Approximately 800-850ktpa of average annual production of 6% spodumene concentrate and over estimated 17-year mine life and approximately 800,000lbs per annum of tantalite have been other highlights. The DFS has delivered a slight increase in capital costs from A$207M to A$231M.
This expansion of 5Mtpa Pilgangoora project, particularly through North Asia, will position Pilbara Minerals to meet the surging demand for lithium raw materials globally. The Pilbara stock traded at a market price of $0.902 (before market close at August 03, 2018) and has seen a daily price change of $0.057 or a percentage change of 6.75%. The performance change over the past 12 months has been 119.48%.
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